Excellon And Endeavour Silver Post Positive Q3 Results

Things are looking good for Excellon Resources and Endeavor Silver Corp. The companies both recently reported positive Q3 results.

According to Kitco, “Excellon Resources Inc. reported a third-quarter profit of $3 million, or 5 cents per share, a rise from a loss of $4.35 million this time last year. ‘During the third quarter, despite realized silver prices of $21.40 we generated positive cash flow and profits from our La Platosa Mine,’ says Brendan Cahill , president and chief executive officer of Excellon. ‘Silver grades of almost one kilogram per (metric) ton, improved tonnage and decreased costs contributed significantly to our performance. We took steps early in the quarter to reduce costs, particularly at our corporate office, and began the process of improving our production profile.’”

“Endeavour Silver Corp. disclosed a year-on-year rise in profit during the third quarter, reporting a $12 million rise, or 12 cents per share, compared to a flat year in last year’s comparative quarter. ‘Our solid financial performance in (the) third quarter 2013 was a direct result of the company’s ability to respond quickly to the drop in metal prices earlier this year,’ says Bradford Cooke, chief executive officer of Endeavour Silver.”

The price of Japanese silver fell 3.2 percent on Monday, November 4, making it the day’s biggest mover. The price of Chinese silver declined 0.2 percent. US silver prices saw a 0.2 percent decline. After a couple of days of decreasing prices, the price of Indian silver held steady.

Japanese gold bullion fell 1.0 percent. Today marked the fifth in a row of declining prices and the drop-off has accelerated since Tuesday, October 29. Chinese gold bullion fell 0.6 percent on Monday. US gold bullion ended the day, after the 0.5 percent drop yesterday. Indian gold bullion held its value on Monday.

Japanese platinum bar prices declined 0.6 percent. For the fifth day since Tuesday, October 29, the drop-off has accelerated. The price of US platinum bar finished the market day up 0.3 percent per ounce. Following two days of downward movement, the price of Chinese platinum bar held steady.

Weakening prices followed two days of improvement as the price of Japanese palladium bar dropped 0.4 percent. After a 0.3 percent increase, US palladium bar finished the day. The price of Chinese palladium bar showed little movement on Monday.